Coinspeaker
US Government Now Holds $13.82B Worth of Bitcoin

According to data from the blockchain intelligence firm Arkham, the US government’s Bitcoin (BTC) holdings have reached a total of 216.788, worth approximately $13.83 billion. The company, focused on deanonymizing entities within the crypto space, said the increase stems from recent developments, particularly the seizure of assets from Banmeet Singh, an Indian national involved in illegal activities on the dark web.

Singh, who pleaded guilty to drug distribution charges in January this year, forfeited approximately $150 million in proceeds from his illicit operations. Additionally, authorities confiscated 3940 BTC belonging to the offender. The assets are currently valued at around  $250 million.

US Bitcoin Seizures

The recent seizure significantly contributed to the government’s Bitcoin reserves, which now total $13.8 billion. Arkham said a substantial portion of these assets may have been acquired through criminal seizures.

Before the recent addition, the US government’s Bitcoin holdings stood at approximately $8 billion. As of October 2023, the country